On average, a bachelor's degree holder earns about $1.2 million more over a lifetime than a high school graduate. But averages hide enormous variation by major, school, and career path. Here's how to run the numbers for your specific situation.
Return on investment = (lifetime earnings premium − total loan cost) ÷ total loan cost × 100
Earnings premium = what you'd earn with a degree minus what you'd earn without one, over your whole career.
| Major | Avg starting salary | Mid-career salary | ROI tier |
|---|---|---|---|
| Computer Science | $85,000 | $130,000 | Very High |
| Engineering | $75,000 | $110,000 | Very High |
| Nursing | $62,000 | $85,000 | High |
| Business | $55,000 | $80,000 | High |
| Education | $42,000 | $58,000 | Moderate |
| Liberal Arts | $40,000 | $60,000 | Moderate |
| Fine Arts | $38,000 | $52,000 | Low-Moderate |
A computer science degree from a $15,000/year state school has dramatically better ROI than the same degree from a $60,000/year private school. The degree market doesn't always pay a premium for the brand — especially outside top-10 schools.
Run your own degree ROI calculation.
Degree ROI Calculator →ROI calculations miss career flexibility, professional network, and doors that only open with a degree (law school, medical school, many government positions). For many careers, the degree isn't optional — the ROI question is which degree from which school at what cost.
For most majors, ROI turns negative when total debt exceeds 1.5× starting salary. A $120,000 debt for a $40,000/year education job is a very different financial picture than a $120,000 debt for an $85,000/year engineering job.